There were also gains for residential land investment which saw an 18% year-over-year gain.

The Office and Retail sectors both saw significant gains in 2018, $149 million and $141 million respectively. But the office vacancy rate increased slightly to above 15% in 2019, with continued demand for new modern spaces in the downtown region.

There were mixed results for the new home market which continued weaker the weaker sales trend seen in 2018. Condominium apartment sales are down but townhouse sales remain comparably robust. Additionally, the decline in the condominium market has resulted in stronger demand for rental apartment options.

2019 saw a slower start

The bad news is that 2019 has started slower with Q1 2019 posting a 12% decrease from Q1 2018 and a 22% decrease from Q4 2018.

The full report can be viewed at: https://datasolutions.altusgroup.com/download-edmonton-flash-report-2019/